GBP/USD last seen at $1.2737, 6 pips lower....>

CABLE: GBP/USD last seen at $1.2737, 6 pips lower on the day, as Boris Johnson

reiterated his pledge to take the UK out of the EU by Oct 31 and said that he

could get no-deal through parliament; he also admitted that some cooperation

with the EU would be needed to avoid a hard Irish border/high trade tariffs. 

- Bears eye the 100-HMA at $1.2688, bulls target the Jun 12 high of $1.2759.

- Although cable inched higher in Monday's Asia-Pac session, a fresh sell-off

emerged into the European morning. After failing to retake prior highs during a

subsequent recovery attempt, the rate extended losses, but persistent USD

weakness allowed it to climb above neutral levels into the close.

- Veteran Tory MP Clarke said that he would be willing to back a no-confidence

motion against Johnson's gov't if that was necessary to prevent a no-deal.

- The Telegraph reported that Ireland is facing pressure from six fellow EU

member states to outline plans for managing a no-deal Brexit.

- UK focus this week remains on the Tory leadership race & Brexit developments.

Data-wise, the release of UK GDP on Friday is noteworthy. Elsewhere, BoE's

Carney, Cunliffe, Saunders and Tenreyro will speak on Wednesday.